The information from the general journal is transferred to the:
A)Balance Sheet.
B)Income Statement.
C)general ledger.
D)Statement of Retained Earnings.

Question

Quizplus · Accepted Answer

Information from the general journal is usually posted to the general ledger, which is a book or computer program that contains all accounts and their balances, allowing for the preparation of financial statements such as the balance sheet, income statement, and statement of retained earnings. However, the specific accounts affected by the journal entry will determine which financial statements will be impacted.

The Information from the General Journal Is Transferred to The